Two-Family Duplex with
For Sale
$299,000
3446 Golden Ave, Cincinnati, OH 45226
The lower unit has one bedroom, while the upper unit offers three bedrooms and two full baths.
Property Size2,182 SF
Price / SF$137.03
Days on Market12
Property Features for 3446 Golden Ave
General Information
Standard status
Active
Size
2,182 SF
Property subtype
Multi-Family
Zoning
RM 2.0
Units
Unit Mix
1 x 1BR, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1919
Listing Agency:
Coldwell Banker Realty
(513) 616-0409
Listed By:
William Draznik
Source:
Cincylivingwithangela
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 12:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This two-family duplex contains 2,182 square feet and was built in 1919. The first-floor residence includes one bedroom, an open living and dining area, and a decorative brick fireplace. The upper unit spans two stories with three bedrooms, two full baths, and a front balcony with views toward Kentucky.
Hardwood floors run throughout the property. The building is zoned RM 2.0, is offered as-is, and is available for immediate occupancy. Its two-unit configuration provides separate residential spaces within a single property.
Hardwood floors run throughout the property. The building is zoned RM 2.0, is offered as-is, and is available for immediate occupancy. Its two-unit configuration provides separate residential spaces within a single property.
Key Highlights
- Two‑family duplex with 2,182 square feet
- First‑floor unit with 1 bedroom and open living and dining areas
- Upper unit includes 3 bedrooms and 2 full baths across two stories
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,282
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$365,640
$365.6K
Cap Rate 7%
$261,171
$261.2K
Cap Rate 9%
$203,133
$203.1K
Market Conditions
NOI Build-Up for 2,182 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.8K $12.72/SF
− Vacancy
−$1.6K −$0.75/SF
EGI
$26.1K $11.97/SF
− OpEx
−$7.8K −$3.59/SF
NOI
$18.3K $8.38/SF
Area
Cincinnati, OH
Vacancy
5.90%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$365,640
Cap Rate 7%
$261,171
Cap Rate 9%
$203,133
Alternative Uses
Best Use
Multifamily LT 5
$261.2K
$228.5K – $304.7K
NOI $18,282 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$231.6K
$202.7K – $270.2K
NOI $16,212 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$433.8K
$379.5K – $506.1K
NOI $30,363 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 45226, OH
5,687
Population
3,272
Households
1.7
Avg Household Size
36
Median Age
73%
College-Educated
98%
High-School Grad
5.7 sq mi
ZIP Area
998
Density / Sq Mi
$100,320
Median Household Income
$59,639
Median Earnings
$1,244
Median Rent
$387,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The lower unit has one bedroom, while the upper unit offers three bedrooms and two full baths.
Where is this duplex located?
The property is located at 3446 Golden Ave Cincinnati, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑family duplex with 2,182 square feet; First‑floor unit with 1 bedroom and open living and dining areas; Upper unit includes 3 bedrooms and 2 full baths across two stories
